Air Canada Q2 profit plunges over 50% amid challenging market

Air Canada reports Q2 earnings of $186 million amid a “challenging environment”

Air Canada reported net income of $186 million for the second quarter, down from $410 million in the same period last year. The airline described the operating backdrop as “challenging,” citing macroeconomic uncertainty and geopolitical tensions that affected demand.

On an adjusted basis, Air Canada recorded $207 million in net income for the quarter, versus $369 million a year earlier. Adjusted earnings came to $0.60 per diluted share, compared with $0.98 per share the prior year. Analysts had expected an adjusted $0.72 per diluted share on average, according to LSEG Data & Analytics.

Despite the weaker results, Air Canada reaffirmed the financial guidance it issued in May and said it is reallocating capacity toward higher-demand markets to navigate near-term uncertainty.

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George Weston posts $258 million Q2 profit and announces stock split

George Weston Ltd. reported a profit available to common shareholders of $258 million in the second quarter, down from $400 million a year earlier. The reduction reflected, in part, a fair value adjustment on a trust unit liability.

Adjusted results were stronger: the company reported $401 million in adjusted earnings, or $3.06 per diluted share, compared with $394 million, or $2.93 per diluted share, in the prior-year quarter. Analysts had expected $3.37 per diluted share on average, per LSEG Data & Analytics.

Revenue rose to $14.82 billion from $14.09 billion the previous year. George Weston, which holds significant stakes in Loblaw Cos. Ltd. and Choice Properties REIT, also announced a three-for-one stock split intended to keep its shares accessible to retail investors and employees and to improve liquidity.

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Lightspeed reports US$49.6 million Q1 loss and US$304.9 million in revenue

Lightspeed Commerce Inc. posted a net loss of US$49.6 million in its first quarter of fiscal 2026, compared with a US$35 million loss in the same quarter last year. On an adjusted basis, the company reported US$7.9 million in net income, versus US$16.1 million previously, equal to $0.06 per diluted share compared with $0.10 per diluted share a year earlier.

Revenue rose to US$304.9 million from US$266.1 million, supported by the addition of roughly 1,700 customer locations across North American retail and European hospitality, representing about five percent year-over-year growth. Lightspeed expects full-year revenue growth between 10 and 12 percent for fiscal 2026.

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Bombardier posts Q2 income of $178 million

Bombardier Inc. reported net income of $178 million in the second quarter, a substantial improvement from $19 million in the same period last year. Adjusted net income for the quarter ending June 30 was $117 million, slightly higher than $111 million a year earlier. Adjusted earnings per share were $1.11, up from $1.04.

Revenue for the quarter was $2.03 billion, down from $2.20 billion the prior year. Bombardier noted a sharp increase in orders — particularly in its defence division — and growth in service revenue. The company ended the quarter with a backlog of $16.1 billion, up $1.9 billion from the prior quarter.

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Gildan Activewear reports US$137.9 million Q2 profit and reaffirms guidance

Gildan Activewear reported US$137.9 million in net income for the quarter ending June 29, up from US$58.4 million a year earlier. Adjusted earnings were US$145.9 million, up from US$124.7 million, equal to $0.97 per diluted share compared with $0.74 previously. Net sales rose to US$918.5 million from US$862.2 million.

The company reaffirmed its full-year guidance after assessing the potential impact of tariffs and outlining mitigation options such as pricing adjustments and leveraging its flexible business model.

TFI reports lower Q2 profit as market weakness continues

TFI International Inc., Canada’s largest trucking firm, reported net income of US$98.2 million for the quarter ended June 30, down from US$115.7 million a year earlier. Earnings per diluted share were US$1.17, compared with US$1.36 in the same 2024 period. Revenue declined to US$2.04 billion from US$2.26 billion.

Management attributed the decline to reduced volumes amid weaker end-market demand. CEO Alain Bédard said the company performed solidly in a subdued market and was able to maintain shareholder returns through dividends and share buybacks during the quarter.

Algoma Steel reports a $110.6M Q2 loss amid tariff pressures

Algoma Steel Group Inc. reported a net loss of $110.6 million for the second quarter, compared with net income of $6.1 million a year earlier. The company said tariffs and lower shipment volumes pressured results; it paid $64.1 million in tariffs during the quarter, versus none in the prior-year period.

Revenue fell to $589.7 million from $650.5 million. CEO Michael Garcia said operational performance met expectations but was negatively affected by tariff uncertainty and weak steel demand. The company said it is seeking federal support to manage continued uncertainty from U.S. tariffs on Canadian steel.

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